[VIDEO] Trump 'cannot continue to ignore' infrastructure, Martin Tuchman says

Martin Tuchman's plan to fund the nation’s infrastructure rebuild involves slashing the tax on repatriated profits by 30 percentage points, from 35% to 5%. A subsequent 25% of those repatriated profits would be invested in municipal bonds for states.

As lawmakers return from recess Monday, President Donald Trump is putting pressure on Congress to coalesce around a bill to repeal and replace ObamaCare, however one manufacturing CEO says infrastructure should be an equally important priority.

“You cannot continue to ignore rebuilding the infrastructure … it eventually needs to be replaced and we have been ignoring the infrastructure for a very long time,” Martin Tuchman, co-founder of Interpool and Chairman and CEO of the Tuchman Group, told FOX Business Monday.

While President Donald Trump has proposed a $1 trillion infrastructure plan, it is estimated that, “by 2025 a total investment of $4.59 trillion is required to improve the nation’s infrastructure,” according to a report by the American Society of Civil Engineers.

Tuchman has a plan to fund the nation’s infrastructure rebuild that involves slashing the tax on repatriated profits by 30 percentage points, from 35% to 5%. A subsequent 25% of those repatriated profits would be invested in municipal bonds, giving state legislators discretion over spending.

“If there is in fact $2 trillion dollars that gets repatriated under this plan, $500 billion would go into the rebuilding the infrastructure, also creating jobs,” Tuchman said.

Watch the video here.

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